Invest Newark announced on Monday it will host a webinar in partnership with Combs Enterprises to provide guidance for Newark minority- and women-owned small businesses on the U.S. Small Business Administration’s Payroll Protection Program.
The online only event is Tuesday, April 28 at 4:00 p.m. It will feature a PPP loan application tutorial as well as a chat with Mayor Ras J. Baraka; Tarik Brooks, chief operating officer of Combs Enterprises; and John Lewis, executive vice president and chief administrative officer of The Harbor Bank of Maryland.
“The City of Newark has a strong minority-owned and women-owned small business community, and it’s critical that they have the same opportunity for Payroll Protection Loans as larger institutions,” Newark Mayor Ras J. Baraka said. “This webinar with Combs Enterprises and Invest Newark is intended to enable our businesses to get the funds they urgently need to retain their employees and in turn sustain their businesses.”
Sean “Diddy” Combs launched Our Fair Share on Thursday to help minority entrepreneurs and small businesses have chance at bouncing back after being impacted by COVID-19. It also helps simplify the payroll protection application process for business owners with certified SBA lenders.
“We hope that our partnership with Sean Combs’ team and his coalition of MWBE banks will provide more access to capital for diverse business owners,” Bernel Hall, CEO and president, Invest Newark, said. “We are giving them the tools and tips to get through the process successfully.”
Invest Newark said it hopes the webinar will make the application process easier for Newark businesses to complete and ensure they understand the federal guidelines for loan forgiveness.
“Minority and women entrepreneurs deserve access to the capital made available by the U.S. Government to enable small businesses to weather the economic crisis caused by the coronavirus,” Tarik Brooks, chief operating officer, Combs Enterprises, said. “The mission of Our Fair Share is to do just that in a clear and easy format.”